Evergrande is aiming to shift the group’s major enterprise from actual property to the auto enterprise.

Beijing:

China Evergrande New Vitality Car Group Ltd has began deliveries of its Hengchi 5 electrical automobile, with the primary 100 prospects getting their vehicles on Saturday, it mentioned on its official Wechat account.

The corporate, a unit of closely indebted property developer China Evergrande Group, launched manufacturing of the automobile at a plant within the northern metropolis of Tianjin final month.

Evergrande is aiming to shift the group’s major enterprise from actual property to the auto enterprise over the subsequent decade, with plans to make 1 million autos by 2025.

It has mentioned it could begin mass manufacturing of its second EV mannequin within the first half of 2023 and a 3rd within the latter half of subsequent yr.

The Hengchi 5 sport-utility automobile sells for 179,000 yuan ($24,690.00).

(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)



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